Relocations are a big untapped market for many real estate firms. The recent National Association of Realtors Profile of Buyers and Sellers provided statistical data that indicated a strong correlation between the relocation market and Realtors (as opposed to homebuilders, developers, or others).
Our Conclusions regarding Relocation:
• Realtors have the best access to relocation buyers
• Buyers are five (5) times more likely to make their first contact a Realtor rather than a builder
• 11% of all home purchasers cited Relocation as the primary reason for a home purchase
ANALYSIS AT-A-GLANCE
Method of Home Purchase:
• 81% – From a real estate agent or broker
• 54% – Of new home buyers used a real estate agent or broker
• 10% – Directly from builder or builder’s agent
First Step Taken During the Home Buying Process:
• 33% – Search for homes via the Internet
• 17% – Contacted a real estate agent
• 03% – Contacted a builder or visited a model home
Resources Used When Searching for a Home:
• 87% – Internet
• 85% – Real estate agent
• 22% – Homebuilder
Where Buyers Found the Home They Purchased:
• 37% – From the Internet
• 33% – From a real estate agent
• 07% – Builder or builder’s agent
Internet Resources Used:
• 60% – Local metropolitan MLS websites
• 48% – Realtor.com
• 46% – Real estate company websites
DATA SOURCE:
The 2008 National Association of Realtors® Profile of Home Buyers and Sellers
